Love/hate relationship with Chase.

I have to say that Chase is becoming one of my least favourite cards fast. Granted I may not be their ideal customer, so it's a two way process.

As of January 2008, I had 3 accounts with Chase: checking, 2 Chase credit cards (I don't remember their actual names, so let's used Red and Blue to differentiate them). Over last year, Chase closed my checking account due to inactivity. Well if they don't want my business there are 5 other banks within one block of my home. In addition, they jacked Red CC rate to 28%. Annoying, but fine by me - Blue CC had very competitive rate and was one of my favourite cards. However, when I called and inquired if they would consider APR decrease on Red CC, they happily announced that I shouldn't worry as they would jack up Blue CC APR to match with Red. Ouch.

Since then Blue CC fell out of grace as well, until I called them today regarding combining Red and Blue cards. I got very nice girl, who prompty suggested that I keep only minimal CL on Red and transfer the rest to Blue. Fantastic idea, but I should have know better. While unrelated to CL consolidation, Blue CC APR increased by 5% today. Ouch again.

Re: Love/hate relationship with Chase.

Ugh. I think some of these credit card companies need to replace the bit of their CSRs' scripts where they drivel on about appreciating your business with a line that says "Sir/Madam, XXXXBank regards you as a cash cow, and we are going to milk you for all you're worth".

I think it may be time to pay off any balances you might have on the card(s), and introduce Chase to their new home in the sock drawer. I know APR hikes are commonplace right now, but that doesn't mean you have to just take it. You've already tried asking if they might consider lowering your APR, and they've shown how much they appreciate your business by increasing it (again), so I'd take your spending to an issuer that treats you better. Just be sure to charge a pack of gum or a bag of pretzels every month or so to keep the card active, and hopefully a bit further along the line, Chase will see the error of their ways.

Banks are all very happy to do this stuff "just because they can" - if they think you need them, they'll run roughshod over you, but as soon as they realize you don't need them at all, you'll most likely suddenly become a much more valued/desirable customer.

Re: Love/hate relationship with Chase.

Oh I know there are better rates then 4.79% . But to get that rate through a dealer who is making money on the reserves is still very good. I am sure the dealer has a big kick back on the loan. However, I make one payment a week, 4 a month, so the loan goes away very fast and they wont be able to make that much

Re: Love/hate relationship with Chase.

I finally called consolidation department today and painlessly merged two accounts, leaving only minimum CL on one of the cards to keep it open. However, after I got off the phone I noticed a pleasent surprise. Initially, CSR filled out an application to close one of the accounts and increase CL on other one by $1500. We caught the error right away, but CSR forgot to adjust back CLI by $500 (minimum CL). So I effectively ended up with extra $500 CL!!!

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